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Our Financial Institutions

Personal Loans in Delhi

Personal loans in Delhi are easily obtainable as a lot of financial institutions and NBFCs provide them at a decent interest rate. A personal loan is the best option if you do not have an asset to provide as collateral as it is a type of unsecured loan. The loan amount ranges from Rs. 25,000 to Rs. 25 Lakhs with a tenure period of one to five years. Personal loans in Delhi are best suited for times of contingencies as the loan is provided instantly. Minimal documentation and processing time is taken for the loan approval process.

Usually, a personal loan is obtained for paying off medical bills, home renovation, wedding expenses, personal durable goods and travel expenses. You can use a personal loan if you want to pay off multiple unpaid loans by opting for debt consolidation or balance transfer.

In a metropolitan city such as Delhi, one’s monthly expenditure is high. Travelling expenses, hefty medical bills and high taxes tend to burn a hole in our pockets. The people are accustomed to the cosmopolitan lifestyle having expensive tastes and would not mind spending a large part of their income to purchase luxury items. Most of the money is spent on comforts of life because of a constant desire to have a high standard of living. Therefore, the biggest challenge faced by us is the inability to save money and stick to a budget, especially for a middle class man. During times of liquidity crunch when the need for lump sum money arises, applying for a personal loan is the solution.

For obtaining a personal loan with ease, certain requirements such as a decent credit history, adequate monthly salary and minimum age are important. After you apply for a personal loan, your credit report containing your credit history and your final credit score is reviewed by the lender. Thus, if you have a good credit score, lenders would give you a personal loan at low-interest rates and vice versa.

It is best to carry out detailed research and gather relevant information before taking a personal loan. The interest rates, processing fees, flexibility of tenure and pre-payment charges should be compared and the best option should be chosen. Many people fall into the trap of borrowing from private lenders who charge a very high rate of interest. At times, the interest rates can go as high as 30%. It is advisable to turn to online lending platforms as the loans are provided at lower interest rates at these platforms. To get the best deal without going through a lot of trouble, online lending platforms such as IndiaLends.com are a good option. Applying for a personal loan online is convenient as most of the work is done by the online platform. When you apply online, your application is sent to various Banks and NBFCs according to your profile who make a lending decision after reviewing your application. Online platforms like IndiaLends operate without charging any extra fees or attached hidden costs.

Personal Loan: An Overview

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use. It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

How it Works

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use. It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

1

Registration

Apply online in less than 2 minutes

2

Quick Verification

We will review your application and give
you a decision within minutes

3

Loan Disbursal

Receive the loan amount within two days.

Find out your customized interest rate for a Personal Loan in Delhi

A Personal loan is a form of credit offered by financial institutions for the borrower’s personal use. It is an unsecured loan and doesn’t require collateral as security or a guarantor to avail the loan.

Excellent service and easy process while getting a personal loan with IndiaLends. It's one of my best experience with any lending company so far.

3.0

Radhika Jain

I never knew applying for personal loan was so easy. I just had to apply online for my personal loan and IndiaLends Team took care of the rest. I got my loan within a couple of days.

4.0

Meenu Mansoori

Wonderful experience and hassle free loan process. They would not only provide you personal loan but also help you in identifying your credit health. Great company with brilliant resource to help you with your overall experience was going through a tough time and didn’t know which bank to approach for best rates. I came across IndiaLends website and applied with them, since they deal with various Banks and other lenders. I was surprised that they offered me the rate of Interest of 15% only and helped me in getting my loan easily.

4.0

Ambareen Saleem

Thank you IndiaLends for helping me out in the time of crisis. My sister’s wedding was there in 10 days and I realized that we were short of money and time. While searching for a loan on website, I came across IndiaLends which said “Loans for everyone under one roof and that too in a safe environment”. I went and check their site and applied instantly online. Next day I got a call from their team for details and two days after I had the amount I required for my sister’s wedding. I must say it was a great experience with you guys.

5.0

Frequently Ask Questions

Q.
How much can I borrow and for how long?

A.
You can get personal loans starting from Rs. 25,000 up to Rs.25 lakhs for 1 to 5 years.

Q.
Can I repay my loan early?

A.
Yes, you can pre-pay your loan as and when you want.

Q.
How does Indialends assess my credit worthiness and how long does this take?

A.
Each consumer wishing to borrow on the Indialends portal will need to go through a rigorous verification and credit assessment process. The assessment is based on information collected from various data sources like the application form, credit bureaus, bank statements, pay slips, verification reports, social media, etc.
The above process is automated and happens within seconds. Hence, you can get an approval shortly after you submit your application.

Q.
Why was my application rejected?

A.
The reason your application was rejected was because your credit profile did not match the criteria stipulated in the Indialends policy at the time. However, Indialends might be able to approve your application at a later date, if by then your credit file has improved or there have been changes in the Indialends credit policy.

Q.
What is my repayment schedule?

A.
Repayment of the loan will happen monthly on an EMI (equated monthly installment) basis where the amount will be calculated based on amortizing balance. One or two of the installments might be different which will depend on the timing of the loan.

Q.
What happens in the case of a missed payment or non-payment by a borrower?

A.
If the monthly payment for a borrower is delayed for any reason, a penalty fee and penal interest might be charged to the borrower.
The borrower’s credit file will also get impacted which will restrict him / her to get credit in the future. Legal action may also be taken against the borrower.

Q.
What information is shared with the lenders browsing through the profiles?

A.
Lenders will have the ability to view detailed profiles of the borrowers, information like financial information, employment information, etc. The personal information of the borrower remains protected as per our privacy policy.

Q.
How do I alter my loan request?

A.
Loan requests can only be cancelled prior to loan disbursal. In case you want to make any changes to your request please reach out to support@indialends.com. The support team will help you in making the modifications.

Q.
How can I make monthly payments?

A.
You can pay your EMIs using electronic transfer of funds, ECS.

Q.
How will you disburse the loan amount?

A.
Soon after the loan is approved, the funds will be transferred right into your bank account.

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a copy of the credit information with IndiaLends in the “as is” format. Please click on the link below to read and understand the important information
section below. ** This document is an electronic record in terms of the Information Technology Act, 2000, and rules made there under, and the amended provisions pertaining to electronic records.